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Cincinnati Bell's (CBB) Hawaiian Telcom (HCOM) buyout is likely to boost innovation and build scale and fiber density across its footprint.
The Hawaiian Telcom deal will enable Cincinnati Bell (CBB) to deliver more competitive products and services, including continued expansion of Next Generation Fiber Network to customers across Hawai'i.
Cincinnati Bell (CBB) announced today that the U.S. Federal Communications Commission (FCC) has approved Cincinnati Bell’s acquisition of Hawaiian Telcom Holdco, Inc. (HCOM). The FCC’s approval of the merger follows the unanimous approvals of the merger by the Hawai‘i Public Utilities Commission on April 30, 2018 and the Hawai‘i Department of Commerce and Consumer Affairs’ Cable Television Division on December 8, 2017. The merger also cleared the Hart-Scott-Rodino Act review period and received overwhelming support from Hawaiian Telcom shareholders.
Hawaiian Telcom Holdco, Inc. (HCOM) (“Hawaiian Telcom”) and Cincinnati Bell Inc. (CBB) (“Cincinnati Bell”) announced today an election deadline of 5:00 p.m., New York time, on June 21, 2018 (the “Election Deadline”) for Hawaiian Telcom stockholders to elect the form of consideration they wish to receive, subject to proration, in connection with the proposed merger of Hawaiian Telcom with and into a wholly owned subsidiary of Cincinnati Bell (the “merger”) pursuant to that certain Agreement and Plan of Merger (the “merger agreement”), dated as of July 9, 2017, by and among Hawaiian Telcom, Twin Acquisition Corp. and Cincinnati Bell.